Conti releases Q3 results, lifts EBIT target

Consolidated sales at Germany’s Continental AG reached €8.35 billion in the three months to 30 September, a 2.65 per cent increase on the same period of 2012. Adjusted sales were up 2.44 per cent to €8.31 billion. EBITDA rose 10.36 per cent year-on-year in the quarter to €1.32 billion (15.8 per cent of sales, up from 14.7 per cent) and EBIT grew 15.58 per cent to €886.3 million (10.6 per cent of sales, up from 9.4 per cent).